The global deception technology market is projected to reach USD 2.12
billion by the end of 2021, growing with a CAGR of 16.7% from 2016 to
2021.

Deception technology augments existing preventive security solutions in
organizations and regularly addresses security issues in profounder and
sophisticated manner. It provides defence to enterprise data from cyber
threats using its advance capability to detect, analyse, and defend
against zero-day exploits and advanced malwares. Deception technology
has evolved from traditional vulnerability assessment tools to address
growing need to integrate existing technologies to provide higher level
of visibility into the internal networks.

Rise in instances and sophistication of zero-day attacks, malwares,
ransomwares, cyber-attacks and advanced persistent threats has created
need for effective solutions to detect and defend attacks, thereby
driving the deception technology market. Furthermore, increasing
adoption of BYOD and CYOD strategies by large enterprises has further
fuelled the need to deploy deception technology solutions. Tremendous
opportunities for market growth lies in successful integration of
deception technology with virtual environments. However, lack of
awareness and prevailing use of legacy honeypots hinders the market
growth.

Among verticals, BFSI segment is projected dominate the market over the
forecast period. BFSI sector is amiable in terms of deployment of mobile
solutions and internet applications. Thus, increasing reliance on such
systems is opening up new possibilities for cyber criminals. On other
hand, retail segment is expected to reflect highest CAGR over the
forecast period. This is attributed to increasing use of internet to
mislead and attract online customers; thereby increasing need to protect
them. Cloud based deployment of deception technology solutions is
considered as most preferred option by the enterprises operating across
different industry verticals.